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Putnam County auditors report $31.8M 2023 surplus, strong reserves and GFOA recognition
Summary
County auditors told the Audit & Administration Committee that Putnam County ended 2023 with roughly $31.8 million in surplus, a $144.3 million general fund balance, a Aa1 Moody's rating and a Government Finance Officers Association award; auditors flagged ARPA timing rules and routine budget variances.
Putnam County's outside auditors told the Audit & Administration Committee on Sept. 24, 2024, that the county closed fiscal 2023 with an estimated $31.8 million positive change in fund balance and a total general fund balance of about $144.3 million, and that the county continues to meet high standards for financial reporting.
Nicholas DeSantis, a partner with PKF O'Connor Davies, said in the committee presentation that the county's financial statements were issued as draft with a clean opinion expected and that Putnam had again received the Government Finance Officers Association certificate of achievement for excellence in financial reporting. "I believe this is the 37th award that the county has gotten," DeSantis said during the presentation.
Auditors and county finance staff…
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